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Analysis of S&P 500 from QuickTakesPro’s Michael Kahn:
S&P 500 (SPX) – At the time of this broadcast, SPX was around 2005.86 down 11.95 today. It has moved past its 50 day moving average of 1968.74 and it is above its 200 day moving average of 1914.03. It was up at new highs, then had an indecision day, followed by a down day. One thing to note is that when it hit new highs, the volume was low. It appears to be “balking at these new highs,” according to Michael. The market could be waiting for election results and anything unexpected could change things.
The Chart of the Day is Barrick Gold Corp (ABX) -
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Analysis of ABX Volatility Chart and Dividends from TradeKing’s Brian Overby - volatility crunch Technical tools used:
Brian Overby’s paper trade strategies based on Michael’s analysis -
Bull Put Spread Long Call Spread
Brian’s Paper Trade - Bull Put Spread Brian’s Paper Trade - Long Call Spread TradeKing Options Tools used:
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